You are here: Home » Economy & Policy » News
Business Standard

RBI Governor stresses need for strengthening preventive vigilance framework

He was speaking at a panel discussion organised by the central bank as part of the ''Vigilance Awareness Week 2020''

Topics
RBI Governor | Shaktikanta Das | Vigilance

Press Trust of India  |  Mumbai 

RBI Governor Shaktikanta Das
RBI Governor Shaktikanta Das

Reserve Bank of India (RBI) Governor on Thursday underlined the need for strengthening the preventive framework to increase efficiency stressing that it was also critical for ensuring good governance.

He was speaking at a panel discussion organised by the central bank as part of the 'Awareness Week 2020'.

In his opening address, the governor "highlighted the critical role of in ensuring good governance standards in the financial sector and the need to strengthen preventive vigilance framework to increase efficiency", the RBI said in a statement.

As part of upholding the spirit of 'Vigilant India, Prosperous India', the RBI on Thursday organised panel discussions on two related topics

Strengthening Preventive Vigilance: A Tool for Good Governance, and Leveraging Technology for Vigilance Oversight.

Central Vigilance Commissioner Sanjay Kothari was the chief guest and Vigilance Commissioner Suresh N Patel was the guest of honour at the event.

In his address, Kothari emphasised on the improvement in systems for strengthening preventive vigilance and importance of training and capacity building at various stages of career of bank officials.

He also underlined the need for cross exposure of bank officials and investigative agencies, particularly during the training period.

The panel discussions focussed on macro issues in vigilance administration covering the financial sector, importance of better systems, procedures to enhance productivity levels, and the need to leverage advancements in technology.

The RBI is observing the Vigilance Awareness Week with the theme 'Vigilant India, Prosperous India' from October 27 to November 2. Various events are being organised at central office and regional office levels.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 29 2020. 22:44 IST
RECOMMENDED FOR YOU
.